HomeTechnologyMakerDAO and DAI Creator Proposes New Native Chain Based mostly on Solana...

MakerDAO and DAI Creator Proposes New Native Chain Based mostly on Solana (SOL) Fork

MakerDAO co-founder Rune Christensen is proposing that Maker (MKR) launch its personal native blockchain primarily based on the Solana (SOL) codebase.

Writing in a brand new weblog put up, Christensen reveals plans for the fifth section of “Endgame,” the long-term roadmap for Maker that was initially specified by Could of 2022.

Within the put up from Could, Christensen mentioned the fifth and last section of Endgame was the launch of “NewChain,” a separate chain that homes backend safety whereas interacting with Ethereum (ETH) by way of a “state of the art bridge.”

Now, Christen says that after researching, a Solana fork ought to be a candidate for NewChain.

“The last phase of Endgame is the launch of a native blockchain for Maker with the codename NewChain.

It will make the ecosystem more secure and efficient

After some research, I believe the Solana codebase should be considered as the basis for NewChain.”

Christensen names three causes specifically why Solana is essentially the most promising codebase for NewChain and one which ought to be explored additional.

Particularly, the veteran crypto developer says that Solana presents excessive effectivity, together with an ecosystem galvanized by the collapse of FTX, plus a historical past of already efficiently being forked, reminiscent of Pyth, the oracle resolution.

“The first reason is the technical quality of the Solana codebase, as it is highly optimized for the purpose of operating a singular, highly efficient blockchain, which is what NewChain requires. The Solana codebase is engineered well and benefits from being designed long after the bottlenecks and challenges of blockchains were already well understood, which fits nicely with the objective of NewChain itself in fixing the technical debt of Maker. Solana also already has two client implementations, which is crucial for resilience.

The second reason is that the Solana ecosystem has proven its resilience by having gone through the FTX blowup. Despite all of the issues and hardships, the project still has a thriving developer community. This means that it has a significant Lindy Effect and is likely to stick around long term and means that the costs for development and maintenance will be much lower and that there will always be a high-quality pool of talent available for Maker to access and contribute to.

The third reason is that there already exists examples of the Solana codebase being forked and adapted to act as appchains. Most notable is the Pyth project which runs its own adapted version of Solana to act as its backend.”

Don’t Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox

Examine Value Motion

Comply with us on Twitter, Fb and Telegram

Surf The Day by day Hodl Combine

Examine Newest Information Headlines


Disclaimer: Opinions expressed at The Day by day Hodl will not be funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any loses you could incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in affiliate internet marketing.

Featured Picture: Shutterstock/Artwork Furnace

Supply: https://dailyhodl.com/2023/09/03/makerdao-and-dai-creator-proposes-new-native-chain-based-on-solana-sol-fork/


Bitcoin dominance echoes Might 2019: Will altcoin season lag once more?

Analysts claimed that the Alt season might lag amidst a potential BTC dominance surge. However different observers anticipated the alt season to be trigged by the...

High Altcoins To Stack Because the Ethereum ETF Launch Approaches!

With the rising volatility within the cryptocurrency market, the Ethereum worth continues to hover above its $3,500 mark, highlighting a rise within the bullish sentiment...

Subsequent Bull Run Is Completely different From 2021: Market Focus Shifts From Metaverse, NFT and P2E to AI, RWA and DePin

Amongst a couple of essential discussions, one matter that individuals throughout the crypto market are discussing is ‘the next crypto market bull run.’ Though nobody...

Revolutionizing Finance: The Function of Cryptocurrencies within the Blockchain Ecosystem

Digital or digital currencies, secured by cryptography, have elevated considerably of their utility prior to now ten years. Versus common cash, which is issued by...

Most Popular

Please enter CoinGecko Free Api Key to get this plugin works.